| Using your house as a wallet |
Tuesday, 10 April 2007 |
House prices continue to rise briskly. And since the start of the decade, UK home owners have borrowed an astonishing £264bn against the rising value of their homes.
But is this borrowing, known as mortgage equity withdrawal, a good thing? Two commentators argue the case.
Contrary to the negative stories associated with credit and borrowing in the UK, maintaining some level of credit is a fact of life for most people.
Our recent research shows that the vast majority of the population is in fact comfortable with their levels of borrowing.
However, many worry that they are not getting the best deal on interest rates and charges on their existing credit.
As such, credit consolidation through a secured loan is often an intelligent choice for people who want to re organize their existing credit arrangements.
However, no financial product follows a one-size-fits-all approach, and they are designed with specific criteria and customers in mind.
http://news.bbc.co.uk
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